Technical analysis by Full-time-gold-analyst about Symbol PAXG: Sell recommendation (9/4/2024)

Technical analysis of gold: Gold rebounded slightly last trading day and closed with a small hammer line. Gold is still temporarily maintaining a high narrow range of fluctuations in the daily trend, but the short-term moving average has gradually diverged downward, and the price has begun to slowly move out of the high range of fluctuations, tending to continue to decline in the short term. Yesterday, it was under pressure from the 2506 line, and fell from the middle track to the lower track, which was completely in line with the daily review expectations. Yesterday, the intraday and daily review gave a direct short position at the 2500 line and looked down to 2485-2475. All of these were public ideas before the gold price went out of the downward trend. Yesterday, the price formed a top at the high level at the beginning of the week and finally released the short energy. The price is currently in a weak arrangement of three consecutive negatives, and the sharp drop and rebound also provide a good opportunity for short-term shorting. After the sharp drop yesterday, it rebounded in the middle of the night, but the rebound is an opportunity for shorting. Gold is directly shorted at the current price of 2495 in the early trading.After the previous wave of decline and rebound in the 4-hour trend, the price touched near the early pressure zone. The 4-hour chart fluctuated from the 2530 line to the low near 2470. At present, the space has slightly converged, and unilateral momentum has not yet been seen in the short term. The structure is still on a downward trend, with 2530 as the high point and the second high point is around yesterday's high of 2506. After the continuous narrow range fluctuations in the hourly trend, the technical pattern has also begun to gradually weaken, and the rebound in the short-term trend may not be too big. Before the short-term breakthrough of 2500, it can still be regarded as a weak decline, but the space must be combined with the form. The following still needs to pay attention to the breakout of 2470. If it does not break the low, it will just be a shock. A breakout will deepen the room for further adjustment. On the whole, today's short-term operation of gold recommends mainly shorting on rebounds, supplemented by longs on callbacks. The upper short-term focus will be on the 2496-2500 first-line resistance, and the lower short-term will focus on the 2473-2470 first-line support.Now is the best time to short gold, 2489 directly short gold, TP2465Now is the best time to short gold, 2489 directly short gold, TP2465Crazy profits every day If you don't want to miss out, click on the website below to get trading signalsAt present, gold still has room to fall, and you can continue to short gold at 2485At present, gold still has room to fall, and you can continue to short gold at 2485Gold can be sold at the current price, TP2480Crazy profits every day If you don't want to miss out, click on the website below to get trading signalsCrazy profits every day If you don't want to miss out, click on the website below to get trading signalsCrazy profits every day If you don't want to miss out, click on the website below to get trading signalsAt present, gold still has room to fall, and you can continue to short gold at 2485